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  2. Taxation in the Philippines - Wikipedia

    en.wikipedia.org/wiki/Taxation_in_the_Philippines

    Percentage tax is a business tax imposed on persons or entities/transactions: who sell or lease goods, properties or services in the course of trade or business and are exempt from value-added tax (VAT) under Section 109 (w) of the National Internal Revenue Code, as amended, whose gross annual sales and/or receipts do not exceed Php 3,000,000 ...

  3. Bureau of Internal Revenue - Wikipedia

    en.wikipedia.org/wiki/Bureau_of_Internal_Revenue

    To strictly enforce the payment of taxes and to further discourage tax evasion, RA No. 233 or the Rewards Law was passed on June 19, 1959 whereby informers were rewarded the 25% equivalent of the revenue collected from the tax evader. In 1964, the Philippines was re-divided anew into 15 regions and 72 inspection districts.

  4. Payroll tax - Wikipedia

    en.wikipedia.org/wiki/Payroll_tax

    Federal social insurance taxes are imposed on employers [35] and employees, [36] ordinarily consisting of a tax of 12.4% of wages up to an annual wage maximum ($118,500 in wages, for a maximum contribution of $14,694 in 2016) for Social Security and a tax of 2.9% (half imposed on employer and half withheld from the employee's pay) of all wages ...

  5. Pay-as-you-earn tax - Wikipedia

    en.wikipedia.org/wiki/Pay-as-you-earn_tax

    Discrepancies and deduction amounts are declared in the annual income tax return and will be part of the refund that follows after annual assessment or reduce the tax debt that may be payable after assessment. For an employee's primary job, the withholding tax rate is lower because of the existence of a tax-free threshold in Australia.

  6. Form W-2 - Wikipedia

    en.wikipedia.org/wiki/Form_W-2

    This information is used by the employee when they complete their individual tax return using Form 1040. [3] When an employee prepares their individual tax return for a tax year, the withholding amount from Form W-2 is subtracted from the tax due. It is possible to receive a refund from the IRS if more income was withheld than necessary. [3]

  7. Tax withholding - Wikipedia

    en.wikipedia.org/wiki/Tax_withholding

    Tax withholding, also known as tax retention, pay-as-you-earn tax or tax deduction at source, is income tax paid to the government by the payer of the income rather than by the recipient of the income. The tax is thus withheld or deducted from the income due to the recipient.

  8. Tax deduction - Wikipedia

    en.wikipedia.org/wiki/Tax_deduction

    Tax deductions above the line lessen adjusted gross income, while deductions below the line can only lessen taxable income if the aggregate of those deductions exceeds the standard deduction, which in tax year 2018 in the U.S., for example, was $12,000 for a single taxpayer and $24,000 for married couple. [1] [3]

  9. Category:2018 in the Philippines - Wikipedia

    en.wikipedia.org/wiki/Category:2018_in_the...

    Print/export Download as PDF; Printable version; ... Pages in category "2018 in the Philippines" The following 27 pages are in this category, out of 27 total.